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What’s Typical in a Severance Package, and What Should I Ask For?

By Tom McKinney | June 9, 2022

If you’ve recently been terminated and received a severance agreement, it may be for a number of reasons. Perhaps your employer is seeking to avoid lawsuits. Maybe there are issues that they wish to address through non-disparagement clauses or similar strategies. No matter what the reason may be, most employees generally have the upper hand. […]

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The Consideration Period: How Long Do I Have to Sign a Severance Agreement?

By Tom McKinney | May 10, 2022

If your employer decides to terminate your job, you may be given a severance agreement that requires you to waive your right to sue for wrongful termination based on age, race, sex, disability, and other types of discrimination. But should you sign it? And if you do, how long does it take to get your […]

Can a non-compete keep you from working?

By Tom McKinney | February 12, 2020

If you are in the market for a new job or freelance gig, don’t be surprised if you’re asked to sign a non-compete agreement as a condition of employment. You may also be asked to sign a non-compete at the end of your employment as part of a severance package. Problem is, a non-compete could […]

Can a company take back severance pay?

By Tom McKinney | February 10, 2020

Most employers provide severance pay only to employees who have lost their job through no fault of their own – such as a layoff or reduction in force. Severance pay varies from employer to employer and may be pursuant to a written policy or simply discretionary. In some workplaces, employees may become eligible for severance […]

The Importance of Reviewing a Severance Agreement

By Tom McKinney | January 6, 2017

While employers are not legally required to offer severance packages, most employers provide post-termination benefits to employees in a severance agreement. Severance agreements typically include a compensation package for the terminated employee, along with employer protections. At the end of employment, an employer will often present the terminated employee with a severance package. While the […]

Can I negotiate with my company to increase the amount of the severance pay?

By Tom McKinney | November 4, 2016

The severance agreement and severance pay being offered to you is the initial offer from the company.  All severance agreements can be negotiated to work on trying to increase the benefits being offered to you.  These benefits usually include the amount of compensation, stock grants or options, continued medical coverage or COBRA, payments of bonuses, […]

Severance Packages and the Law | Understand Your Severance

By Tom McKinney | October 7, 2016

Surprisingly, the law does not mandate employers to provide terminated employees with severance packages.  An employee of 40 years can be fired and is not entitled to a severance package of any kind – not even two weeks of pay.  Employers offer severance packages as a matter of corporate convenience.  A severance package is a […]

Severance and Unemployment

By Tom McKinney | December 16, 2015

Can you receive severance and unemployment?  This is a common question that our clients ask about prior to signing the severance agreement.  However, the answer to this question is very fact specific and state specific.  Each state has its own unemployment compensation laws and regulations.  Accordingly, each state will have a different view on whether […]

How to Calculate Severance Pay

By Tom McKinney | March 20, 2014

Losing a job is difficult, regardless of the cause. At Severance Lawyers, we’re here to make your departure from your former employer as beneficial, and easy, to you as possible. As you work through the dynamics of your employers’ proposed severance agreement, you may be wondering how your severance pay is calculated. Severance packages for salaried […]

Can Severance Pay Be Taxed?

By Tom McKinney | January 6, 2014

If you have recently lost your job and are offered a severance pay agreement, you may be wondering how much of the agreed-upon amount you will actually see after taxes. This is a very good question, and one that even the U.S. Supreme Court has not yet figured out. There are a number of factors […]